The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1887-09-01
LLEwxAM'S LETTER.
Correspondence From the Country's
Capital.

between Messrs Davis and Cleveland
would not be inappropriate. but it
would furnish the radical press and
speakers with big hunk of political
scandal which they would use for all
it would be worth.
It is, however, believed by many
astute politicians say nothing of
the advocates of Right, and those who
very properly decline to see the real
South smashed-that the introduction
of Davis to Cleveland by Grady
would have far reaching effect, es-
pecially in view of Roscoe Conkling's
speech, published last Sunday. Let
the G. A. r. effusionists rip-they are
Joined to their idols, and SUCH idols.
NEW POLITICAL PARTY.
4 call has been issued for conven-
ton, to be held in Philadelphia, to or
ganize new political party. It is to
be a great deal on the Know Nothing
order, the objects as set forth in the
call being:
Reserve American lands for Amer.
lean citizens. ~.
"The protection of Americans, in
all their rights, on land or sea, in all
parts ofthe world.
"To restrict and guard the right of
the elective franchise.
"To abolish polygamy in the United
States Immediately and entirely.
"To enact and enforce such laws as
will tend to eradicate intemperance.
"To Envelope the resources of the
country by wise system of internal
Improvements.
"To protect and to promote the
American system of free common
schools.
"To adjust the relations between Ia
Dor and capital on a permanent basis
of equality and justice"
It is alleged that the party will poll
a large vote at the next election.
FAIRCHILD AND THE FINANCES.
The Secretary of the Treasury is
being soundly scored for his attitude
on the bond purchasing and interest
anticipating business. Now here is
an illustration of his way of increas-
ing the public debt:
Registered Al bonds were quoted at
the close of the market Tuesday in
New York at 1913, and SIC, 900 worth
sold earlier in the day at 1914, and
coupon bonds were quoted at 100.
Secretary Fairchild purchased yes
terday 81, 1886, 400 worth of registered,
and 1902, 900 coupons. The prices
paid were as follows: 81 ,275. 500, reg
istered, at 100 ; 81 200, 900, registered,
at 1Os, 11-16; 100000, at 1OS, 267 +;
100000, registered, at 1O8.607
500, 900, registered, at 10Y .9O7 $780,
900, registered, at 108.25; $500, 900,
coupon, at $108 11-16, and $4,000,
coupon, at 107 ,OO7.
It will be seeen that with the ex-
ception of the 100000 coupon bonds
every dollar of the bonds purchased
were bought at a much higher price
than the quotations in New York at
the close of the market ON Tuesday
evening.
For 81, 275, 500 registered bonds,
100 was paid, that is Il, more than
the price sn New York, making the
sum of ST., 538. For 81 200, 900, 1O8
11-16, which is 1916 more than the
price, making $3.50. For 100000,
los 267 was paid, which is more than
the market prics by $1,086. The
next batch at 500, 900 brought 81 1854
more than the market price. The
next 5000, 900 was only $64 over the
market trade, and the next 100000
were 1926 over market price.
The total sum paid for these bonds
more than they sell for in New York
the evening before the bids were
made was $29, 927.
But Secretary Fairchild made a
great saving from the market rate on
the purchase of coupon bonds. They
were quoted at 100, and he bought
| $500, 900 at 1O8 II Is, thus saving
1897 SO, and he bought $4,000 coupon
bonds at 107907, saving from the
market rate $21 Astounding a tot
al of $959.36 less than the market rate
paid for registered bonds.
Secretary Fairchild paid for these
bonds more than their face value
three hundred and seven thousand
nine hundred and eight dollars ano
forty mine cents, and he paid 1885,,
ga more than they were quoted at in
the New York markets.
Who authorized Secretary Fair
child to increase the public debt 1907,
908. 40?
MISCELLANEOUS MENTION.
The Secretary of the Treasury hal
made the following revenue appoint
ments in North Carolina within thu
last week: Thos. b. Walton, at Gates
Vile; L. j. Pagan, at Plymouth L
E. Wright, at Oxford; M. A. Under
wood, at Norwood r. G. Llewellyn
at Rockford F. w. Norman, a
Kapp's Mills.
At the International Medical Con
gress, which convenes in this city
next month, DIR. j. w. Jones, of Tar
boro will read paper OIL Gynalcol
Ogy.
Second Lieutenant Zeb. B. Vance
Jr., of the army, has been granted tw'
months leave of absence from Aug
ust %.
| Mrs. Cleveland returned to tn
White House on last Wednesday
While in Massachusetts, she sat for ,
portrait in bronze. The Presiden
will attend a banquet given by Phils
.